OREANDA-NEWS Deputy Prime Minister Alexander Novak instructed relevant departments to work out additional measures to support the Russian metallurgical industry. This is reported by TASS.

"In the context of ongoing internal structural changes in the economy, metallurgy has a huge potential to increase labor productivity and, consequently, increase work efficiency," the agency quotes the deputy chairman of the government of the Russian Federation.

The publication says that the relevant issue was discussed by the authorities at a meeting of the subcommittee on improving the stability of the financial sector and certain sectors of the country's economy with the participation of representatives of the Central Bank, relevant ministries, as well as companies.

In January, the same subcommittee identified industries in need of priority support. In particular, ferrous metallurgy was mentioned among them. It was noted that the state of each of the mentioned sectors of the economy will be reviewed in detail during January — March. At the same time, Novak instructed to prepare forecasts of production volumes in these industries, focusing on the analysis of competition with imported goods and structural changes in the industry balance.